Mukesh gears up for retail tryst in Kerala

Mukesh Ambani-owned Reliance Industries (RIL) is set to make its presence felt in God's Own Country with its retail business.

With the Vizhinjam port close to Kovalam, providing ample potential as a transshipment spot for its retail activities, Reliance is understood to be considering making the most out of it from here. The development of the port by the company with an eye on this venture is also not being ruled out.

Confirming that the company is seriously mulling over possibilities to make a mark in Kerala, a senior Reliance Industries official told Business Standard from Mumbai, "We are looking at various options in Kerala before we take a final decision."

Adding that Kerala was indeed part of the company's plans for its upcoming retail business, he said the investment part will be worked out only after the various options to begin operations is finalised.

Going by the RIL chairman's statement at the recent AGM that the company's retail focus entails Rs 10,000 crore equity investment and that Rs 25,000 crore would be spend in the years to come, the company is expected to do all what is needed to see its retail initiatives blossom. The chairman had also said that the retail presence would be pan-Indian covering 1,500 cities.